Restructuring and insolvency

Our successful solutions make your business dreams possible.

The bancruptcy of a company invariably provokes a domino effect, which, once started, stops only when one result is reached – satisfaction with the debtor’s assets.

Our team of experts investigates, litigates and defends claims by and against companies in insolvency procedures, as well as actions for the declaration of invalidity of transactions or actions, or rescission claims. In addition, we assist our clients in contingency planning and risk management.

The complex legal framework of the insolvency in Bulgaria creates obstacles in protecting the interests of both the creditors of insolvent companies and the companies themselves.

“It takes a trusted friend to win!”

We are actively engaged in mergers, acquisitions, joint ventures, and corporate restructuring following recent changes in the economic landscape:

  • Consultating and legal representation of corporate clients and bank institutions in bankruptcy proceedings;
  • Preliminary analysis of options and risks related to insolvency;
  • Debt restructuring;
  • Bank insolvency
  • Consultating on the stages and duration of insolvency procedures; assistance in initiation and conduct of such procedures;
  • Representation in all stages of insolvency procedures;
  • Distressed debt trading and exits;
  • Debt and asset recovery, retention of title, and other creditor claims;
  • Recovery and collection of receivables.


“For me, for my partners and colleagues, one thing always remains true about AD “Toncheva and Partners” – the feeling of security, peace of mind, that we are in the right place and will receive the right advice.”

National Board of Tourism

Dr. Polina Karastoyanova, CEO

“Toncheva and Partners JSC has the necessary expertise covering all needs.”

Association AIBEST

Nora Ishkova, CEO

“I was impressed by the depth of the legal research and the comparative analysis they did between the Bulgarian legislation and the European framework for early childhood education and care.”

Foundation for children at risk around the world

Rositsa Bogalinska-Petrova, CEO